In This Chapter
• Learning the vocabulary of loans
• Comparing terms and interest rates
• Understanding the different types of mortgages
• Shopping around for mortgages
Entire books have been written on mortgages because the industry is complicated and there’s so much to know about the biggest bill you will probably ever pay. It might seem like mortgage lenders speak another language and you’re left trying to understand what everyone is talking about. The whole process can get overwhelming—one wrong move, and you could be trapped in a loan that costs you more than you can afford to pay and only gets worse as years go on.
If you go into the process informed and knowledgeable, however, shopping for and getting a mortgage doesn’t ...